The Harry Potter movie Harry Potter and the Order of the Phoenix technically "lost" money on paper, despite grossing over $900 million worldwide. This apparent loss is due to Hollywood accounting, where the film's producing company paid exorbitant fees for distribution, advertising, and interest to Warner Bros. subsidiaries, effectively ensuring the movie corporation made no profit.
Dialog Axiata experienced significant losses in 2022 due to Sri Lankan Rupee (LKR) depreciation against the US Dollar (USD), which translated into large foreign exchange (forex) losses on its USD-denominated borrowings and vendor liabilities. These forex losses caused the company's Net Profit After Tax (NPAT) to turn negative for certain periods in 2022, despite underlying profits when these losses were normalized. While forex losses were a major factor, lower EBITDA performance and higher finance costs also contributed to the overall loss for the year.
Dialog Axiata experienced significant losses in 2022 due to Sri Lankan Rupee (LKR) depreciation against the US Dollar (USD), which translated into large foreign exchange (forex) losses on its USD-denominated borrowings and vendor liabilities. These forex losses caused the company's Net Profit After Tax (NPAT) to turn negative for certain periods in 2022, despite underlying profits when these losses were normalized. While forex losses were a major factor, lower EBITDA performance and higher finance costs also contributed to the overall loss for the year.
